London has always represented a bustling and cosmopolitan centre of trade and commerce. Tracing its roots back to pre-Roman times, this city is now one of the most important commercial hubs on the planet. To put these observations into perspective, recent studies suggest that London is now home to more than one million businesses; both domestic and international.
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However, professionals who are seeking long-term corporate accommodation may encounter challenges on occasion in terms of pricing packages. How expensive is it for business professionals to stay in London and are there any price-friendly alternatives to consider? If you are required to travel to London in the near future, the information below will come in handy. Do make sure to check for recent and updated information on business travel during Covid-19 to avoid unnecessary expenditure and disappointments. Here is a link with all up-to-date UK government Coronavirus restrictions information. Read on for your corporate accommodation options.
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Housing Providers
There are many services based in London, which specifically cater to the needs of business professionals. Commonly known as corporate housing providers, their rates are based off of daily, weekly or monthly reservations. However, the associated fees can be quite expensive (up to £3,000 pounds per month). Assuming that one’s employer is not footing the bill, such rates can be all but impossible to pay. So, not your most commonly used option.
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What About Hotels?
Of course, London is home to thousands of franchised hotels and boutique properties. The good news here is that these locations are quite flexible in terms of location and the associated amenities. The downside is that the majority of hotels are meant to address short- to medium-term stays. Furthermore, the most popular locations may have no vacancies during busier times of the year. Another possible issue is that professionals who plan on arriving to London with their families accompanying them, may encounter problems with the size of the rooms and find them too restricting and child unfriendly.
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Rising Rates
In terms of sheer rental costs, London corporate accommodation rates had risen dramatically in the past few years. This is perhaps one of the reasons why the price of such locations has increased twice as fast as the global average. Simply stated, this is due to nothing more than supply and demand. Although many new properties are being constructed, most experts predict that the rates themselves will continue to rise in the near future.
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Cost-Effective Solutions
When looking for the best serviced apartments London has to offer, several metrics must be analyzed and considered. Here are some examples:
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The price of the room
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The length of your stay
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The location of the property
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What types of amenities are included
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Space to work as well as to relax
Furthermore, it is critical to highlight that serviced apartments are particularly suited to those who will be required to stay in London for longer periods of time. Therefore, the associated costs are often more amenable. For those who travel with their families, this would be an ideal option, as it is simply most convenient “home from home” scenario. Very often these apartments are based in highly-regarded and sought after areas of London close to parks, museums and restaurants, which is an added bonus to your pastime.
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Finding corporate accommodation in London does not necessarily have to represent a challenging task. Those who are dealing with a tight budget should make it a point to examine serviced apartments as a viable solution. Not only will these options provide a welcome sense of luxury, but they are often cost-effective alternatives to the traditional hotels.
Whichever option you choose, stay safe and well and enjoy your time in London!
